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Sep 27, 2009
09/09
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chris: it's the deficit. >> because the deficit is going to hit those other issues. >> inflation. chris: thanks for a great roundtable. trish regan, richard stengel, kathleen parker and andrew ross sorkin. that's the show. thanks nor watching. -- for watching. see you here next week.
chris: it's the deficit. >> because the deficit is going to hit those other issues. >> inflation. chris: thanks for a great roundtable. trish regan, richard stengel, kathleen parker and andrew ross sorkin. that's the show. thanks nor watching. -- for watching. see you here next week.
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May 30, 2011
05/11
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i think harold's right, if obama moves right on deficit reduction, real deficit reduction, i'm a reasonable version of what republicans want, he'll be tough to beat, but i don't see a medicare deal happening right now because republicans need to play the politics. they've played policy. now they need to play politics because that's all the democrats are doing. so, i think it's going to be -- you know, we've launched a missile on the deficit, and it's either going to hit the deficit or it's going to hit grandma's house, you know? we've got to explain that this is real deficit reduction that's going to save medicare. >> all right. we will leave it there. thank you all very much. that is all for today. we're going to be away next sunday during nbc sports coverage of the french open, but we will return the following week. if it's sunday, it's "meet the press." and we leave you this memorial day weekend and we honor and remember all of the men and women who have given their lives in service to this few years, up to 1 million new teachers will be needed as baby boomers retire. who's up for the jo
i think harold's right, if obama moves right on deficit reduction, real deficit reduction, i'm a reasonable version of what republicans want, he'll be tough to beat, but i don't see a medicare deal happening right now because republicans need to play the politics. they've played policy. now they need to play politics because that's all the democrats are doing. so, i think it's going to be -- you know, we've launched a missile on the deficit, and it's either going to hit the deficit or it's...
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Apr 10, 2011
04/11
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but in that process, we should be able to reduce the deficit. so, we should not be playing brinksmanship with a full faith and credit of the united states of america. so, of course we're going to do that, but what we need to do at the same time, in the months ahead, is we've got to decide -- and it's going to be a tough fight -- how are we going to reduce the deficit, get ao a more sustainable fiscal trajectory, but that doesn't cost the economy or grow jobs. >> laying out the deficit count, that's new this morning, and i want to break that down a bit. back in november of last year, the president set up a debt commission, and he said a lot of things to the american people, including this -- >> i set up this commission precisely because i'm prepared to make some tough decisions. i can't make them alone. i'm going to need congress to work with me. if we are concerned about debt and deficits, then we're going to have to take actions that are difficu difficult, and we're going to have to tell the truth to the american people. >> he said that, and ye
but in that process, we should be able to reduce the deficit. so, we should not be playing brinksmanship with a full faith and credit of the united states of america. so, of course we're going to do that, but what we need to do at the same time, in the months ahead, is we've got to decide -- and it's going to be a tough fight -- how are we going to reduce the deficit, get ao a more sustainable fiscal trajectory, but that doesn't cost the economy or grow jobs. >> laying out the deficit...
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Aug 2, 2009
08/09
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unless the deficit is reduced? >> certainly there can be sustained growth. we can start laying a foundation for sustained growth in the next couple of years by making sure that there is an adequate level of demand in the economy. for the medium term, the way in which we need to make sure that that growth is stable is to do something about the deficit. but the way you do something about the deficit, david, is you go and you look at the large sections of the federal budget. you look at health -- you look at health care, as i talked about. you look at entitlements. you look at the presence of substantial loopholes that, for example, enable some companies to hide income overseas and not pay taxes on it to the united states and actually get an economic incentive to move some of their production abroad. you look at those kinds of fundamental issues. and that's what we already started doing with great emphasis in health care. that's why, as we move towards the president's 2011 budget, we're going to be doing, you know, in
unless the deficit is reduced? >> certainly there can be sustained growth. we can start laying a foundation for sustained growth in the next couple of years by making sure that there is an adequate level of demand in the economy. for the medium term, the way in which we need to make sure that that growth is stable is to do something about the deficit. but the way you do something about the deficit, david, is you go and you look at the large sections of the federal budget. you look at...
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Feb 10, 2013
02/13
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now they have deficits. now they have debt but it's because of the crisis, not the other way around. greece is a completely different story. of course, we're nothing like any of those because we have our own currency. freedom of action. how much mail? i would actually in the book i call for about 2% dprks dp, $300 billion a year, which is easy now. it would take the state and local governments to rehire the schoolteachers laid off and restart the pothole fillings that have been canceled because of budget constraints. that's enough to get us a long way. that's enough to get us close to full employment right now. you stop at when the private sector repaired their balance sheets enough so the economy is growing strongly again and when the feds start raising interest rates, that's the time when you can safely cut government spending because then you can make a deal. the fed will not raise interest rates if the government is cutting spending. so there is no net effect on jobs. so it's about when we get off that z
now they have deficits. now they have debt but it's because of the crisis, not the other way around. greece is a completely different story. of course, we're nothing like any of those because we have our own currency. freedom of action. how much mail? i would actually in the book i call for about 2% dprks dp, $300 billion a year, which is easy now. it would take the state and local governments to rehire the schoolteachers laid off and restart the pothole fillings that have been canceled because...
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Aug 22, 2010
08/10
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number two, the president appointed a deficit reduction commission. this is not going to be your typical commission. it's going to issue a report, sit on the shelf and gather dust. i put three members on it. very responsible members. john boehner put three members on it. we expect them to send up a recommendation no later than december of this year to deal with our long-term debt problem and we do know that we have a serious long-term debt problem unfunded liabilities related to social security, medicare, medicaid. i don't think we make what they're doing a political football. we'll wait for their report. if it's a responsible report that i can support, i will encourage my members to support it and the president will do the same thing. we could before the end of this calendar year actually have a significant impact on our long-term debt problem. >> why is it that you need a democratic president's commission on cutting the deficit to figure out what it is as republicans you think should be cut from federal spending? >> i don't think that it ought to be
number two, the president appointed a deficit reduction commission. this is not going to be your typical commission. it's going to issue a report, sit on the shelf and gather dust. i put three members on it. very responsible members. john boehner put three members on it. we expect them to send up a recommendation no later than december of this year to deal with our long-term debt problem and we do know that we have a serious long-term debt problem unfunded liabilities related to social...
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Jul 18, 2011
07/11
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they all piled on to the deficit. don't fix the deficit on the backs of the most vulnerable americans. >> david cote, what about corporations and taxes? we hear about the need to lower tax rates, but then you have companies that aren't paying taxes at all. >> well, if you wanted the most dynamic jobs-creating economy in the world, you would have a 0% corporate tax rate. however, nobody can stand that, because in our pursuit of fairness, we actually hurt the very people we're trying to be fair to. so, if we say, all right, what we need to do is, in the pursuit of fairness, attach some kind of tax rate, you should make it the most simple, easy-to-do thing possible, and that's why i think the simpson/bowles commission, i think we got it right, as we said take it away for everybody. all the exclusions, all the exemptions, take it away for everybody so you broaden the base and significantly lower the rates. >> yes. >> you can get an increase in taxes and everybody's going to be happy, and corporations will also get territo
they all piled on to the deficit. don't fix the deficit on the backs of the most vulnerable americans. >> david cote, what about corporations and taxes? we hear about the need to lower tax rates, but then you have companies that aren't paying taxes at all. >> well, if you wanted the most dynamic jobs-creating economy in the world, you would have a 0% corporate tax rate. however, nobody can stand that, because in our pursuit of fairness, we actually hurt the very people we're trying...
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Apr 17, 2011
04/11
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the president's plan to cut the deficit. what it means to your portfolio, the markets, and the economy. >>> oil's wild ride and the impact. my conversation with chevron's ceo about prices, alternative energy, and where the next barrel is coming from now. >>> and the governor of a rust belt state that is actually running a budget surplus. how he does it. what is different about his state, and will he run for president? "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week on wall street. there is little sign of inflation according to two important metrics closely watched by economists and the federal reserve. the core rate of the consumer price index which measures consumer inflation, but does not measure food and energy showed little increase last month as does the core ppi. if there is no inflation, the fed can keep interest rates lower for a longer p
the president's plan to cut the deficit. what it means to your portfolio, the markets, and the economy. >>> oil's wild ride and the impact. my conversation with chevron's ceo about prices, alternative energy, and where the next barrel is coming from now. >>> and the governor of a rust belt state that is actually running a budget surplus. how he does it. what is different about his state, and will he run for president? "the wall street journal report" begins right...
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Oct 4, 2012
10/12
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no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle-income americans. and to do that that also means i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think what -- let's talk about taxes because i think it's instructive. now, four years ago when i stood on this stage i said that i would cut taxes for middle-class families. and that's exactly what i did. we cut taxes for middle-class families by about $3,600. and the reason is because i believe that we do best when the middle class is doing well. and by giving them those tax cuts they had a little more money in their pocket. so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession we went through. maybe they can buy a computer for their kid who's going off to college. which means they're spending more money, businesses have more customers, businesses make more profits, and then hire mo
no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle-income americans. and to do that that also means i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think what -- let's talk about taxes because i think it's instructive. now, four years ago when i stood on this stage i said that i would cut taxes for middle-class families. and that's exactly what i...
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Feb 21, 2011
02/11
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social security does not add one penny to the deficit. social security untouched will make every promised payment for more than a years. the deficit commission was given a charge. add 75 more years of solvency to social security. it came up with an approach. i think, frankly, another commission came up with a better approach. we need to move on social security but let's put it on a track that runs parallel but separate to deficit reduction. the social security program as it is currently put together does not have any impact on the deficit. >> senator graham, few people believe there's none at arithmetic problem with social security. >> when i was 21 and 22 my parents died. i had a 13-year-old sister. i was in college in law school. if it weren't for survivor benefits coming to my sister from my parents' contribution we would have a hard time make it. today i'm 55. i have no kids. we're paying more in benefits than we're collecting in taxes in about five years. in 2037 maybe even sooner you have to cut benefits by a third or across the tab
social security does not add one penny to the deficit. social security untouched will make every promised payment for more than a years. the deficit commission was given a charge. add 75 more years of solvency to social security. it came up with an approach. i think, frankly, another commission came up with a better approach. we need to move on social security but let's put it on a track that runs parallel but separate to deficit reduction. the social security program as it is currently put...
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Apr 17, 2011
04/11
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>> i'm really serious about a plan that claims to reduce the deficit by spending $1 trillion on tax cuts for millionaires and rillion yarz. >> what we heard today was not leadership from our commander in chief. what we heard today was a political broadside from our campaigner in chief. >> the budget war, rising gas prices, the looming debt ceiling deadline and the jobs outlook, all topics for our lead newsmaker guest this morning, the president's point man on the economy, treasury secretary tim geithner. then, what's realistic? our "political roundtable" weighs in on who has the more serious plan to tackle the deficit and whether there is the political will to solve the toughest problems, like medicare and our tax system, without another threat to shut down the government. plus, mitt romney inches closer to jumping into the race. >> it's time we put america back on a course of greatness, with a growing economy, good jobs and fiscal discipline in washington. >> if he's seen by many as the gop front-runner, why is donald trump doing so well in the polls? with us, former chairman of the fed
>> i'm really serious about a plan that claims to reduce the deficit by spending $1 trillion on tax cuts for millionaires and rillion yarz. >> what we heard today was not leadership from our commander in chief. what we heard today was a political broadside from our campaigner in chief. >> the budget war, rising gas prices, the looming debt ceiling deadline and the jobs outlook, all topics for our lead newsmaker guest this morning, the president's point man on the economy,...
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Jul 24, 2011
07/11
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so, we could see serious deficit reform. senator coburn comes on next, the gang of six worked at it. they've got an outline. there's plenty parts -- >> help me understand the timing. you're saying you want a vote that says the debt ceiling is raised until 2013. there could be this super commission that takes on the hard stuff. >> right, right. >> and when does it have to vote up or down, by when? >> if the super committee doesn't produce something that the congress approves, and my understanding is this is speaker boehner's plan -- if they don't produce something in early -- at the end of -- pardon me, at the end of '11 or '12, then there's action that must take place. senator mcconnell has a plan where the president would come to the congress, give his list of cuts, they could vote approval or disapproval on that proposal in order to get the extension of the debt ceiling, but it would not be this sword being held over the american people's heads once again. >> but why should the american people have any more confidence in t
so, we could see serious deficit reform. senator coburn comes on next, the gang of six worked at it. they've got an outline. there's plenty parts -- >> help me understand the timing. you're saying you want a vote that says the debt ceiling is raised until 2013. there could be this super commission that takes on the hard stuff. >> right, right. >> and when does it have to vote up or down, by when? >> if the super committee doesn't produce something that the congress...
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753
Nov 20, 2011
11/11
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so, in the name of lowering the deficit, you want to extend those tax cuts, which increases the deficit, and would not be offset by the tax increase that you were talking about. >> how did the super committee get created in the first place here? when the president asked us to increase the debt ceiling, we said we're not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created to come up with the other $1.2 or $1.5 trillion. supposedly on the mandatory side. this is where two-thirds of our spending occurs. on everything from medicare and medicaid to food stamps and ag subsidies and the like. and we focused on that. and our democratic friends were never willing to do the entitlement reforms that would have reduced the costs -- >> senator you haven't answered my question. >> i'm getting to the point. this was not about extending the bush tax cuts. it was about trying to do entitlement reform on the mandatory side of the budget. when our democratic friends made it very clear th
so, in the name of lowering the deficit, you want to extend those tax cuts, which increases the deficit, and would not be offset by the tax increase that you were talking about. >> how did the super committee get created in the first place here? when the president asked us to increase the debt ceiling, we said we're not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created...
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Jul 17, 2011
07/11
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can he or she carry the burden of rejecting big deficit reduction? what about obama, if there's no debt deal, will he have to defend the liberal label next year? the knives are out. should john boehner expect a full-blown mutiny. is eric cantor the number two house republican leading the tea party against their own speaker? finally, family business. michele bachmann's number one in iowa but her family business about become her number one problem. it works to confer gays to straights. will that strike voters as sensible? will it sell on the stump, even among conservatives? hi, i'm chris matthews. welcome to the show. with us today, "new york" magazine john heilemann, cnn's gloria borger, nbc's kelly o'donnell and "time" magazine's joe klein. first up, narrative has been about trying for a big debt reduction deal this year but the political consequences for barack obama and g.o.p. nominee next year are the real story here. if there's no grand deal what are the 2012 consequences? for the president, there are some 2012 upsides perhaps even without a big
can he or she carry the burden of rejecting big deficit reduction? what about obama, if there's no debt deal, will he have to defend the liberal label next year? the knives are out. should john boehner expect a full-blown mutiny. is eric cantor the number two house republican leading the tea party against their own speaker? finally, family business. michele bachmann's number one in iowa but her family business about become her number one problem. it works to confer gays to straights. will that...
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Apr 12, 2011
04/11
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tomorrow, president obama will outline new long-term deficit- cutting proposals. many critics say they will not even make a dent in the deficit. 11 news washington bureau reporter has the latest. >> the white house is not releasing any details in advance of the president's speech tomorrow, but analysts say a tax increase will likely be part of it. the white house says president obama favors a balanced approach to tackle the deficit which means entitlements, taxes, and defense spending should all be on the table. >> the president will tomorrow, once again, demonstrate his sincere commitment to reducing the deficit, cutting spending, getting the fiscal house in order. six are hard to come by today. >> i would like to see something more than a speech. give me a break. give me numbers. >> i do not know how specific we need him to be, but an outline to what we think needs to be done. >> any viable deficit-reduction plan would include spending cuts and tax increases. they expect the president to renew his call for ending the bush tax cuts for the wealthiest americans. >
tomorrow, president obama will outline new long-term deficit- cutting proposals. many critics say they will not even make a dent in the deficit. 11 news washington bureau reporter has the latest. >> the white house is not releasing any details in advance of the president's speech tomorrow, but analysts say a tax increase will likely be part of it. the white house says president obama favors a balanced approach to tackle the deficit which means entitlements, taxes, and defense spending...
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Dec 12, 2010
12/10
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they kept saying this is going to reduce the deficit. the only way the health care bill reduces the deficit is if they raise taxes. when you read that cbo report that all the democrats like to refer, to very clearly it says government spending on health care under this bill goes up even more than if we had done nothing. so it will absolutely raise costs for the government. >> you're talking about the negatives of an expanded government, whether it's health care, whether it's, you know, ownership of various industries. democrats don't have a monopoly on that, right, michelle? let's talk about we actually saw a huge increase in the size of government with the creation of the tsa. and that also ballooned the deficit, and that was under george w. bush. how do you explain that? >> this is why i wrote the book, because i was so frustrated. "you know i'm right" was meant to be a pun on redefining the right. because i watched for eight years while supposedly small government party just made government bigger, bigger, and bigger. george bush expa
they kept saying this is going to reduce the deficit. the only way the health care bill reduces the deficit is if they raise taxes. when you read that cbo report that all the democrats like to refer, to very clearly it says government spending on health care under this bill goes up even more than if we had done nothing. so it will absolutely raise costs for the government. >> you're talking about the negatives of an expanded government, whether it's health care, whether it's, you know,...
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Feb 7, 2010
02/10
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it showed a deficit of more than $1.6 trillion. it includes a freeze on some discretionary spending programs on the next three years to try to trend future deficits. >>> another big bump in the road for toyota, now it has prius problems. the national highway safety administration is looking to whether the hybrid has issues. toyota recalled 18 million vehicles because of a faulty pedal. ford and gms were up strongly. chrysler sales down slightly. it's earnings season. cisco powered past expectations, pfizer missed estimates. he earned his economic stripes. he was the chief economic advisor for president reagan, the head of the bureau of research and professor at harvard. good to have you on the program. thanks for joining us once again. >> good to be back with you. >> let's start with the unemployment report. 20,000 jobs lost in the month of january. the unemployment rate down to 9.7%. what is your characterization of the employment report. when do you think we'll see job creation again? >> it was not only a 20,000 drop in january,
it showed a deficit of more than $1.6 trillion. it includes a freeze on some discretionary spending programs on the next three years to try to trend future deficits. >>> another big bump in the road for toyota, now it has prius problems. the national highway safety administration is looking to whether the hybrid has issues. toyota recalled 18 million vehicles because of a faulty pedal. ford and gms were up strongly. chrysler sales down slightly. it's earnings season. cisco powered past...
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Nov 18, 2012
11/12
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we have a deficit problem. >> we have a deficit problem but it's my understanding if you do both these things, if you raise the age for social security and medicare it won't make that much of a difference and there at least will be a democratic leadership opening proposition. social security is not in trouble. medicare wouldn't make all that much difference. that's going to be their argument. chris: once the republicans do agree to a tax revenue increase for the rich, then the democrats have to respond with something. >> that's the republican's argument. we keep agreeing to tax hikes and we get promised spending cuts that never happen. this time around we want to know spending cuts will follow if we agree to tax hikes on the table. everything's going to have to be up to discussion. america doesn't so much have a deficit problem as they do a health care problem and you've got to do something about the health care problem. cole: the people want the jobs at 65. >> it will just be a question of policy catching up with life, right? because people are already working older and older and this
we have a deficit problem. >> we have a deficit problem but it's my understanding if you do both these things, if you raise the age for social security and medicare it won't make that much of a difference and there at least will be a democratic leadership opening proposition. social security is not in trouble. medicare wouldn't make all that much difference. that's going to be their argument. chris: once the republicans do agree to a tax revenue increase for the rich, then the democrats...
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Dec 30, 2012
12/12
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part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge opportunity around energy. we are producing more energy and america can become an energy exporter. how do we do that in a way that also deals with some of the environmental challenges that we have at the same time. so that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1st, if congress doesn't act before the end of the year, is make sure that taxes are not going up on middle class families. and because it is going to be very hard for the economy to sustain its current growth trends if suddenly
part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge...
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Aug 1, 2011
08/11
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has washington's attempt to come up with a deficit-cutting deal exposed a deficit of leadership in washington? our roundtable weighs in. nbc's tom brokaw, former governor jennifer granholm, nbc's tom brokaw, former govei love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 people looking out for 70 million americans. that's health in numbers. unitedhealthcare. man: everybody knows you should save for retirement, but what happens when you're about to retire? woman: how do you go from saving to spending? fidelity helped us get to this point, and now we're talking about what comes next. man: we worked together to create a plan to help our money last. woman: so we can have the kind of retirement we want. now, you know how this works. just
has washington's attempt to come up with a deficit-cutting deal exposed a deficit of leadership in washington? our roundtable weighs in. nbc's tom brokaw, former governor jennifer granholm, nbc's tom brokaw, former govei love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our...
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Apr 18, 2010
04/10
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he's committed to bring the deficits down. he's outlined a very hard ambitious set of proposals that will cut our deficits by more than half a share of our economy over the next four years. he's convinced republicans to join on a bipartisan fiscal commission to make sure we can propose reforms, identify policies that take us back to where we were -- >> is it enough -- first of all, cutting taxesor 95% of americans. the bush tax cuts will expire. there are tax hikes included in health care reform. look -- >> health care reform is enormously important and will be enormously important and effective in helping bring down the long-term deficits. >> there's debate about even though that is certainly the assertion about how it was passed. >> again, in our country we turn to the independent analysts to make those judgments. this is why we have health care reform today, because the president wouldn't have it any other way, in their judgment health care reform will bring down long-term deficits dramatically overtime. >> why don't you ha
he's committed to bring the deficits down. he's outlined a very hard ambitious set of proposals that will cut our deficits by more than half a share of our economy over the next four years. he's convinced republicans to join on a bipartisan fiscal commission to make sure we can propose reforms, identify policies that take us back to where we were -- >> is it enough -- first of all, cutting taxesor 95% of americans. the bush tax cuts will expire. there are tax hikes included in health care...
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Sep 2, 2012
09/12
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eye 118
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everybody kind of said that deficits matter. but i can't figure out what forces them to the table to compromise the action. it seems to me it takes a crisis, either a financial one or an artificial one, or could it be a sudden outbreak of leadership? unfortunately, i don't see the latter happening any time soon. so the question is whether or not there is a mood that we have to get things done, and prove to american people that congress divided between the democrats and republicans, can govern after the election. we may get there but we're not there yet. >> does that mean you don't feel that the election will change things when it comes to the deficit? >> i don't think it will change much, i don't think either side will win decisively, president obama if he win -- if mitt romney wins, even if he gets the senate, democrats will have enough votes to block whatever he wants to do. so the only way this gets done is if the loser decides that governing is more important than scoring points for the election. >> david, always good to see
everybody kind of said that deficits matter. but i can't figure out what forces them to the table to compromise the action. it seems to me it takes a crisis, either a financial one or an artificial one, or could it be a sudden outbreak of leadership? unfortunately, i don't see the latter happening any time soon. so the question is whether or not there is a mood that we have to get things done, and prove to american people that congress divided between the democrats and republicans, can govern...
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Apr 14, 2011
04/11
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president, again, the deficit is a symptom. it is spending that is the disease. >> the proposed to save money by turning medicare and medicaid to the state. as the battle over the way to reduce debt, steny hoyer describe the negotiation. >> every republican and democrat agreed that following the debt limit to expire without extending it and having america in the position where could not pay its bills was a totally unacceptable alternative. >> despite the strong words, republicans are in a power position when it comes to determining what programs to cut. he said democrats cannot [unintelligible] without support. there are expected to vote on thursday. lawmakers have time to raise the debt ceiling which is set to expire on may 16. >> in baltimore city, it is official. he is preparing to run for mayor. accompanied by his wife and young children, he filed the necessary paperwork to run against the current year. his campaign will focus on the need for more jobs and tax reduction. he wants to refuel the job market after more than 100
president, again, the deficit is a symptom. it is spending that is the disease. >> the proposed to save money by turning medicare and medicaid to the state. as the battle over the way to reduce debt, steny hoyer describe the negotiation. >> every republican and democrat agreed that following the debt limit to expire without extending it and having america in the position where could not pay its bills was a totally unacceptable alternative. >> despite the strong words,...
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Aug 8, 2010
08/10
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is it good policy to raise taxes on the rich to fight the deficit? >> i don't know that they're going to use it to fight the deficit. last year the number of m ears and billionaire in america up 13%, average wages were flat. it's not an insignificant thing to do. we're talking about 35% to 39.6%. the -- we're not talking about something transformative like kennedy who cut the taxes from 90% to 70 phil esposito or reagan who cut them to 15%. chris: is it smart for them to use the old democrat religion, basically that this is about fairness, the rich have got to pay their share? >> well, basically you're only going c thetolinton era tax rates, which as erin siad is not dramatic. that mistakes -- makes it smart politics because there is a group cool he isy in washington right now -- co-al he ising in washington about getting the deficit cuts. do you want to go forward or back? extending the bush era tax cuts for the wealthiest reeks of the bush era and that's going to fit into the broader frame he is trying to put the elections into. chris: so it's not
is it good policy to raise taxes on the rich to fight the deficit? >> i don't know that they're going to use it to fight the deficit. last year the number of m ears and billionaire in america up 13%, average wages were flat. it's not an insignificant thing to do. we're talking about 35% to 39.6%. the -- we're not talking about something transformative like kennedy who cut the taxes from 90% to 70 phil esposito or reagan who cut them to 15%. chris: is it smart for them to use the old...
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Dec 14, 2009
12/09
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huge jobs deficit and one that was growing, and a huge budget deficit and one that was growing. what he said is we absolutely have to attack both of those. on the jobs side, everybody knows you're never going to get your budget deficit under control if you don't get the economy growing again. that's why what he's talking about is not just government trying to get people working, it's the government helping to jump start the private sector. we know that's what has got to happen. on the fiscal side we know that the actions that we take are likely to be more effective if people have confidence that we will get that long run budget deficit under control. and that is what the president is committed to doing, i got to tell you he has shown that commitment in the debate on the floor of the senate on health care. he has been the most passionate advocate for cost containment. that is a crucial step we can take right now to get the budget deficit under control in the long run. >> is it still his view essentially the government must spend its way out of the recession than attack the defici
huge jobs deficit and one that was growing, and a huge budget deficit and one that was growing. what he said is we absolutely have to attack both of those. on the jobs side, everybody knows you're never going to get your budget deficit under control if you don't get the economy growing again. that's why what he's talking about is not just government trying to get people working, it's the government helping to jump start the private sector. we know that's what has got to happen. on the fiscal...
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Apr 14, 2011
04/11
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today we begin with digging out of the deficit. president obama laid out his blueprint yesterday for how to get out of the nation's debt. republicans say the plan doesn't work for them. steve handelsman reports. >> reporter: under fire from critics who claim he's failed to lead, president obama laid out his new plan to blood up our red ink. >> we have to live within our means. we have to reduce our deficit and we have to get back on a path that will allow us to pay down our debt. >> reporter: the obama goal is to wipe out $4 trillion of deficit in 12 years, debt declining as a percentage of the economy in 2015. with a fail-safe clause to force spending cuts if that target is not hit. and for every $ in spending cuts, $1 in tax hikes. focused on the top brackets, plus mortgage and charitable deductions. >> we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. we can't afford it. and i refuse to renew them again. >> reporter: republicans said no way. >> raising taxes is not what we need
today we begin with digging out of the deficit. president obama laid out his blueprint yesterday for how to get out of the nation's debt. republicans say the plan doesn't work for them. steve handelsman reports. >> reporter: under fire from critics who claim he's failed to lead, president obama laid out his new plan to blood up our red ink. >> we have to live within our means. we have to reduce our deficit and we have to get back on a path that will allow us to pay down our debt....
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Jul 10, 2011
07/11
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a weak jobs number, worries about the debt ceiling and the deficit. what does it mean to the markets? my conversation with the chairman of the house budget committee, paul ryan, talking with me about medicare, compromise, and the federal budget. >>> and what is cooking when it comes to trends in barbecue? we'll check out the hot grills, the tasty dishes and find out what is new in the backyard. the "wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week on wall street. a very disappointing jobs report out on friday. nonfarm payrolls rising only by 18,000 for the month of june. that is the weakest number since september of last year. most analysts were expecting numbers north of 100,000 jobs created. the unemployment rate, meanwhile, bumped up to 9.2%, the highest it's been since december. >>> the holiday-shortened week saw the bulls running early as the dow and the s&p 500 closed at t
a weak jobs number, worries about the debt ceiling and the deficit. what does it mean to the markets? my conversation with the chairman of the house budget committee, paul ryan, talking with me about medicare, compromise, and the federal budget. >>> and what is cooking when it comes to trends in barbecue? we'll check out the hot grills, the tasty dishes and find out what is new in the backyard. the "wall street journal report" begins right now. >> this is america's...
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Aug 16, 2009
08/09
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the deficit. but not in the near term. in the near term, it is stay the course time. doesn't he do what reagan said, patience, we'll get there. >> he wants to blame the bush administration for the problems. while some of these problems he did inherit, the fact is the end of the free fall for the moment is as a result of policies bush did put into place, such as tarp. so obama has failed to i think -- clearly articulate to the public exactly what they have to do and how they have to respond and how it affects them directly. it is too abstract. you cannot hear these big dollar figures over and over again, these deficits, the debt. it is overwhelming. americans are scared to death and he's yet to step forward and do what reagan did and give them confidence in him as a leader who can pull them through. >> reagan had a break. he came in after a long period of stagnation. the problem obama faces, we have a pretty recent memory of good fimes. last year, 5% unemployment. isn't that a problem? >> i think i
the deficit. but not in the near term. in the near term, it is stay the course time. doesn't he do what reagan said, patience, we'll get there. >> he wants to blame the bush administration for the problems. while some of these problems he did inherit, the fact is the end of the free fall for the moment is as a result of policies bush did put into place, such as tarp. so obama has failed to i think -- clearly articulate to the public exactly what they have to do and how they have to...
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Nov 20, 2011
11/11
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we have not been able to get on top of this deficit problem. our normal processes of government seem to be totally broken. the supercommittee has a chance, with extraordinary powers, to do what is necessary to reduce the looming deficits, and i would hope -- have hoped for a long time -- that they would go beyond the minimum to put together a plan that would actually get the deficit on a sustainable track, meaning that our debt would not be rising faster than our economy is growing, which is what is happening now and projected to happen. >> and everybody knows you can't just keep spending and not saving. this is from an individual standpoi standpoint, a corporate standpoint, and of course a country standpoint. let me ask you, alice, if no deal is reached, the doomday scenario for automatic cuts in 2013 is called sequestration. walk us through what that looks like. >> sequestration is a terrible word, but it was just meant to be a sort of damicles hanging over the committee saying, if you don't get a sensible deal, then we have an automatically
we have not been able to get on top of this deficit problem. our normal processes of government seem to be totally broken. the supercommittee has a chance, with extraordinary powers, to do what is necessary to reduce the looming deficits, and i would hope -- have hoped for a long time -- that they would go beyond the minimum to put together a plan that would actually get the deficit on a sustainable track, meaning that our debt would not be rising faster than our economy is growing, which is...
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Mar 6, 2011
03/11
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i'll talk to budget committee chairman paul ryan about debt, the deficit and taxes. >>> also, the godfather of hip-hop, a major mogul in the hip-hop world, fashion and finance. joining me to talk about having it all, russell simmons on the real meaning of success. "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week on wall street. it is one of the most important indicators of the strength of the economy and the economic recovery. and on friday, the unemployment report for february came out, showing 192,000 jobs were created last month. with the unemployment rate dropping to 8.9%, a nearly to-year low. the numbers were in line with analysts' expectations. the price of oil did something it hasn't done in more than two years, closing at more than $100 a barrel this week. on unrest in the middle east. oil is up more than $20 over the last few months, and gasoline is following oil's rise, now well over $4 a gallon in som
i'll talk to budget committee chairman paul ryan about debt, the deficit and taxes. >>> also, the godfather of hip-hop, a major mogul in the hip-hop world, fashion and finance. joining me to talk about having it all, russell simmons on the real meaning of success. "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is...
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Sep 13, 2009
09/09
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he will not sign a bill that adds to the deficit. he walked into the white house and inherited a $1 trillion-plus deficit from the republican administration because they had fought a war in iraq they didn't pay for, they gave tax breaks to the wealthy they didn't pay for and had a prescription drug program under medicare they didn't pay for. this president said that's over and members of congress should take that seriously. i disagree with "the washington post." the fact is under medicare now we are providing multi-billion dollar subsidies for manager called medicare advantage. the health insurance companies said to us, let us run medicare. we can show you how the government is not doing it efficiently. we can do it at a lower cost. guess what? it's not at a lower cost. we are subsidizing private health insurance companies to provide the medicare benefits we can provide at a lower cost. that has to change. that subsidy has to end. that is the kind of savings that can come back into the system to help small businesses to provide healt
he will not sign a bill that adds to the deficit. he walked into the white house and inherited a $1 trillion-plus deficit from the republican administration because they had fought a war in iraq they didn't pay for, they gave tax breaks to the wealthy they didn't pay for and had a prescription drug program under medicare they didn't pay for. this president said that's over and members of congress should take that seriously. i disagree with "the washington post." the fact is under...
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Mar 6, 2011
03/11
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say you want to reduce the deficit. this reduces it by, you know, $1 trillion over the next 20 years. i'm the only one who has put that plan out there. he goes after individual republicans. mitt romney has a john kerry problem. so let me get this straight, you were before it, before you were against it, that sort of thing. and, you know, he -- and then he says, if you've got an idea, i'm willing to it talk about it. >> all right. we're going to leave it there. thank you both very much. be sure to visit our website this afternoon to watch our take two web extra with david brooks and read an excerpt of his new book, "the social animal." it will be on our website,s in msnbc.com. if it's sunday, it's "meet the msnbc.com. if it's sunday, it's "meet the press." -- captions by vitac -- www.vitac.com imagination carries us into the future... and helps doctors see what they couldn't before. it provides funding so that solutions beyond our grasp... become within reach. ecomagination. healthymagination. capital. imagination at wor
say you want to reduce the deficit. this reduces it by, you know, $1 trillion over the next 20 years. i'm the only one who has put that plan out there. he goes after individual republicans. mitt romney has a john kerry problem. so let me get this straight, you were before it, before you were against it, that sort of thing. and, you know, he -- and then he says, if you've got an idea, i'm willing to it talk about it. >> all right. we're going to leave it there. thank you both very much. be...
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Apr 4, 2010
04/10
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deficit commission could be a key part of that strategy. i think it is very helpful, especially when you talked about, beginning to build a cast for value-added tax. chris: do young voters care about this? we have two big white house correspondents. why is barack obama not doing the big presidential press conferences, the kinds that presidents do in the east room. surprisingly, richard nixon reportedly liked the chance to jousting with the press. here he is. >> if you are a lawyer and given the state of the situation and what you do, could you give us some reason why the american people shouldn't believe that that was at least a subtle attempt to bribe the judge in that case and gave at least the appearance of a lack of moral leadership. >> the only part of your statement that perhaps is accurate is a lawyer. [laughter] chris: ronald reagan loved romancing the tv cameras. >> the stock market is going down and some say we will be in a recession perhaps this fall. do you think we are headed for a recession? >> i didn't think anyone would get
deficit commission could be a key part of that strategy. i think it is very helpful, especially when you talked about, beginning to build a cast for value-added tax. chris: do young voters care about this? we have two big white house correspondents. why is barack obama not doing the big presidential press conferences, the kinds that presidents do in the east room. surprisingly, richard nixon reportedly liked the chance to jousting with the press. here he is. >> if you are a lawyer and...
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Nov 11, 2010
11/10
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. >>> in washington, the unwelcome task is being faced of slashing the budget deficit. among proposals, tax hikes, medicare cuts and raising the retirement age. kristin dahlgren has more from us live. >> good morning, veronica, cuts in taxes increases, a couple of controversial proposals by this so-called deficit commission, now cochairs unveiled the ideas yesterday to bring $4 trillion in deficit deductions by 2020. they called debt a cancer that needs to be fixed. the proposals were immediately attacked by both the left and the right in washington. speaker pelosi calling them unacceptable. from korea, president obama urged critics to learn more about the proposals, he said, quote, we have to be straight with the american people and tough choices may be needed. but the proposals may not survive their own commission. 14 of the 18 commissioners need to approve them prosecute they're sent to congress for a vote. some say that could be unlikely. the cochairs acknowledged that all proposals may not fly, perhaps a bit of shock therapy to show the american public just how ser
. >>> in washington, the unwelcome task is being faced of slashing the budget deficit. among proposals, tax hikes, medicare cuts and raising the retirement age. kristin dahlgren has more from us live. >> good morning, veronica, cuts in taxes increases, a couple of controversial proposals by this so-called deficit commission, now cochairs unveiled the ideas yesterday to bring $4 trillion in deficit deductions by 2020. they called debt a cancer that needs to be fixed. the proposals...
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Jan 31, 2010
01/10
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the country is facing a massive budget deficit. that deficit is 13% of the gdp of greece. i spoke to the country's prime minister this week about that debt load and how he's going to get it down. also, improved the economic stability of greece. also i sat down with the president of the european central bank. i asked him about his view of the world and europe's economy. >> where are the strong and weak spots? >> first, we avoided the depression and we had an immediate threat as tuesday of depression. had the central banks both side of the atlantic and the channel been very prompt and bold we would have had a depression. >> let me ask you about the most recent success you've had and that is the very successful bond offering. >> what it shows is that the greek plan for cutting down the deficit and for moving ahead and stri restructuring your economy got a vote of confidence. >> up next he's one of the world's most famous investors and he's seeing green in more ways than one. i'll be talking to george soros where he's putting his money today. and my conversation with one of th
the country is facing a massive budget deficit. that deficit is 13% of the gdp of greece. i spoke to the country's prime minister this week about that debt load and how he's going to get it down. also, improved the economic stability of greece. also i sat down with the president of the european central bank. i asked him about his view of the world and europe's economy. >> where are the strong and weak spots? >> first, we avoided the depression and we had an immediate threat as...
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Feb 8, 2010
02/10
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eye-popping deficit numbers that have put the u.s. in some unchartered waters when it comes to borrowing and paying it back. lisa myers has the first of two reports tonight on what could be a nasty future shock for what we've always come to know as the american way of life. >> reporter: for decades, politicians have sounded the alarm about red ink. >> our national debt is approaching $1 trillion. >> permanent deficit spending must come to an end. >> reporter: today the situation is much worse. this year's deficit alone is projected at a staggering $1.6 trillion. the national debt has soared to $12 trillion about 30,000 for every american. and look at this chart, debt is a percentage of our total economic output. it's now 40% of our economy, and driven by skyrocketing spending, more than doubled in just eight years. >> there's such a thing as going on a binge and we've been on a binge in our personal lives and the way we've borrowed, overborrowed, our government's been on a binge. >> reporter: running big deficits now is good some econ
eye-popping deficit numbers that have put the u.s. in some unchartered waters when it comes to borrowing and paying it back. lisa myers has the first of two reports tonight on what could be a nasty future shock for what we've always come to know as the american way of life. >> reporter: for decades, politicians have sounded the alarm about red ink. >> our national debt is approaching $1 trillion. >> permanent deficit spending must come to an end. >> reporter: today the...
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Dec 6, 2009
12/09
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he can't spend more without driving up deficits and debt. he can't cut taxes without doing the same. the fed can't cut rates lower. what is the president to do? and the grifters, why are people obsessed with getting on tv that they'll vial hate national security to grab the wisp of fame. >> i'm chris matthews, welcome to the show. katty kay is here and john heilemann and gloria borger is from cnn and michael duffy is from "time" magazine. first up, the week started with what commanders can do. he declared thousands of soldiers and billions will go to ramp up the war. >> as commander in chief, i determined it is our vital national interest to send an additional 30,000 troops to afghanistan. >> the unemployment rate went down suitly. it is a drag on the presidency. he can't order up new jobs. a president has only a few tools when it comes to fixing the american economy. eisenhower used an act to end a steel strike. >> i'm getting sick and tired of the apparent impasse in the settlement of this matter. and i think so are the american people. i
he can't spend more without driving up deficits and debt. he can't cut taxes without doing the same. the fed can't cut rates lower. what is the president to do? and the grifters, why are people obsessed with getting on tv that they'll vial hate national security to grab the wisp of fame. >> i'm chris matthews, welcome to the show. katty kay is here and john heilemann and gloria borger is from cnn and michael duffy is from "time" magazine. first up, the week started with what...
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Sep 7, 2011
09/11
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. >> did you know you can donate money to help reduce the federal deficit? you can, but a maryland congressman says the money is not going where it is supposed to. kai reed with more on that. >> tomorrow, he will introduce the act. he says it is all about protecting legislation passed 50 years ago. >> is just so exciting to choose to play a role in active citizenship. >> local attorney first found out about public law 875818 years ago. the legislation passed by president kennedy in 1961 allows for individual citizens to make donations specifically meant to reduce the federal deficit. educating people about the law and inspiring people to participate became her life mission. >> i treated a not-for-profit organization, and started having event. we thought, why not make it fun? so we had a rocky debt concert in downtown washington. >> she helped estimate -- she estimates she helped raise -- >> reported together in one big pot and presented it to the treasury. >> since 1961, citizens of donated more than $81 million. recently, they discovered the donations are n
. >> did you know you can donate money to help reduce the federal deficit? you can, but a maryland congressman says the money is not going where it is supposed to. kai reed with more on that. >> tomorrow, he will introduce the act. he says it is all about protecting legislation passed 50 years ago. >> is just so exciting to choose to play a role in active citizenship. >> local attorney first found out about public law 875818 years ago. the legislation passed by president...
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Jan 2, 2013
01/13
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the fact is, the deficit, is still too high. we are still investing too little in the things that we need for the economy to grow as fast as it should. that is why speaker boehner and i try to negotiate a larger agreement. that would put this country on a path to pay down its debt bank also putting americans back to work rebuilding roads and bridges and providing investment the dark areas like investment and job training. unfortunately, there was not enough support or time for that kind of large agreement in a lame duck session of congress. that failure comes with a cost. the mess in nature of the process of the past several weeks has made business more uncertain and consumers less confident. but we are continuing to chip away at this problem. step by step. last year, i signed into law $1.70 trillion in deficit reduction. tonight's agreement for the reduces the deficit by raising billions of dollars in revenue from the wealthiest households in america. there will be more dead as a reduction as congress decides what to do about t
the fact is, the deficit, is still too high. we are still investing too little in the things that we need for the economy to grow as fast as it should. that is why speaker boehner and i try to negotiate a larger agreement. that would put this country on a path to pay down its debt bank also putting americans back to work rebuilding roads and bridges and providing investment the dark areas like investment and job training. unfortunately, there was not enough support or time for that kind of...
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Jul 10, 2011
07/11
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we need to do something very big, very substantial to bring our long-term deficits down over time. we have to do that in a way that's good for the economy for more support because the economy is healing from the recession. it's going to require both sides to compromise. president's bringing leaders together again at the white house this evening to try to figure out how to move forward. >> what's he actually saying? because you're hearing boehner saying they're demanding tax increases, we're not going to do that. they've also said you were pedalling a bid on whether to cut entitlement programs like medicare or social security. what's the fact? >> that latter thing is not true. the president is standing tough. he is willing to do very, very difficult things. >> like what? on medicare? >> like getting substantial savings from the budget, across the budget. defense, the rest of government, even medicare/medicaid over the long term, there are things we can do responsibly to save money in those programs and we have to do that to bring the deficits under control. but to do that, we have t
we need to do something very big, very substantial to bring our long-term deficits down over time. we have to do that in a way that's good for the economy for more support because the economy is healing from the recession. it's going to require both sides to compromise. president's bringing leaders together again at the white house this evening to try to figure out how to move forward. >> what's he actually saying? because you're hearing boehner saying they're demanding tax increases,...